Custodia submits a petition to the U.S. Supreme Court, advancing a six-year dispute over its master account with the Federal Reserve

Odaily Planet Daily News: Custodia Bank has filed a petition for a writ of certiorari with the U.S. Supreme Court, seeking to determine whether a regional Federal Reserve Bank president has the authority to deny a master account to an institution. Custodia Bank had repeatedly applied for a Federal Reserve master account but was rejected by the Fed in 2023 due to concerns over the significant safety and soundness risks posed by its novel business model and its planned focus on crypto assets. Custodia Bank subsequently appealed to the U.S. Court of Appeals for the Tenth Circuit, which ruled in favor of the Federal Reserve Bank of Kansas City in 2024. The U.S. Supreme Court is scheduled to decide in October whether to hear the case. (Bitcoin.com News)